The Venezuelan Government started regulating cryptocurrency payment. The regulator already set a limit in a monthly wise and it will be collecting commissions of up to 15% of the transaction settlement done. Also, there are new details of its inclusive registry of crypto providers have been announced.

The (Sunacrip) Superintendency of Crypto Assets and the Related Activities of the nation is the regulator of all the digital activities or works in Venezuela. It declared that the new regulation for the settlements using crypto payments has come into force. The order passing this regulation was produced in the Official Gazette No. 41.581 in Venezuela.

The order is going to establish the procedures for the transaction of payments in crypto assets to natural persons in the territory of the Bolivarian Republic of Venezuela.

According to the command, the sender of the payments referred to in this ruling is obliged to pay a financial commitment in favor of Sunacrip up to 15 percent on the total of the settlement.

The minimum commission of Sunacrip charges is equal to 0.25 euros per deal. According to the text of the regulation, Sunacrip has the right to start the crypto settlements in a limit, setting values of crypto tokens in sovereign bolivars, specifying tariffs, and requesting data from the users who are involved in the transactions.

Following the command of Sunacrip, some people tweet on Twitter to raise their opinions about the new rules of payments. One user said that these rules are the most inappropriate thing which they have ever seen. Another user commented that an absurd regulatory framework. He also tweeted that instead of promoting the adoption of crypto assets, they are trying to centralize something that its sources are the opposite.

The Superintendent of Sunacrip named Ramirez Joselit said that the regulation for the Integral Registry of services in crypto assets has started in to force with its publication in Official Gazette Number 41.578.

The Ministry of Popular Power of Communication and Information said that legal, private, public and Natural, communal councils and the other organizations of the People’s power which are intended to carry out the activities that are related to the Integral System of Crypto Assets may be registered.